Tuesday, 23 September 2014
Last updated 8 hours ago
Jan 7 2014 | 2:07am ET
The U.S. Senate yesterday confirmed Janet Yellen to become the first woman to lead the Federal Reserve.
Yellen's nomination was easily approved by a vote of 56 to 26, with nearly a dozen Republicans joining the chamber's Democrats in backing the current Fed vice chairwoman. Still, Yellen's margin of victory was the smallest ever for a Fed chairman.
Yellen will succeed Ben Bernanke, who has led the central bank for eight years, on Feb. 1.
A former president of the Federal Reserve Bank of San Francisco, Yellen has been vice chairwoman of the Fed since 2010. She served as chairwoman of the Council of Economic Advisors under President Bill Clinton.
Yellen voted alongside Bernanke to begin cutting back on the Fed's bond-buying economic stimulus program last month. That may have eased her path with Senate Republicans, who have expressed concerns about the Fed's monetary policy.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitich, CIO of Petty Endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.